US-based mining and natural resources company, Cleveland-Cliffs Inc., has reported fourth-quarter and full-year results for the period ended December 31, 2025.
In the fourth quarter, the company reported total revenues of $4.3 billion, consistent with the prior year’s fourth quarter revenues of $4.3 billion. The company recorded a net loss of $235 million in the fourth quarter last year, compared to a net loss of $434 million in the corresponding period of 2024.
In 2025, the company reported a net loss of $1.4 billion, compared to a net income of $450 million in 2024, while the company’s total revenues amounted to $18.6 billion, compared to $19.2 billion recorded in 2024.
In the fourth quarter, the company’s adjusted EBITDA loss for the steel and manufacturing division was $21 million, while in the full year the company’s adjusted EBITDA for the steel and manufacturing division was $37 million.
Lourenco Goncalves, CEO of the company, said, ““Our performance in 2025 was negatively affected by persistently weak production levels from the automotive sector throughout the entire year, an expiring five-year slab contract becoming value-destructive during its last year, and a newly adverse dynamic in the Canadian market. Fortunately, as we started 2026, these negative situations have all improved. At the same time, the trade environment in the United States continues to move in a very constructive direction, setting the stage for dramatically improved results this year.”